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. an historic sale here on wall street-- the new york stock exchange, home to the world's greatest companies, agrees to a takeover by the intercontinental exchange. >> tom: good evening. i'm tom hudson. former republican senator judd gregg joins us as the u.s. house prepares to vote on the republican plan "b" for avoiding the fiscal cliff. >> susie: and investors gobble up shares of blackberry maker research in motion as the smart phone maker posts better than expected quarterly results. >> tom: that and more tonight on nbr! >> susie: here at the new york stock exchange, the big trade of the day was the big board itself. the n.y.s.e.-euronext has agreed to sell itself to the intercontinental exchange, an acquisition that would reshape wall street. it's an $8.2 billion deal that values the n.y.s.e. at $33 a share, a 38% premium to wednesday's close. so what are the implications of an upstart exchange buying the venerable big board? erika miller reports. >> reporter: the new york stock exchange has been the symbol of capitalism for nearly two centuries, but now it wants to give up its independ
on the fiscal cliff in janaury. suzanne pratt, "n.b.r.," new york. >> susie: from grandma's cookies to holiday gifts for the little ones, still ahead we're riding along with u.p.s. as the shipping giant kicks off its busiest week of the year. >> tom: two mildly encouraging words were used by a group of economists to describe what next year may bring: stable and moderate. that's the 2013 outlook from the national association of business economics. the organization figures the u.s. economy will grow 2.1%, driven by housing and construction, but with corporate profit growth slowing down. nayantara hensel is the chairman of the national association for business economics. not bad, moderate, stable but certainly not robust here s it? >> no, that's absolutely right, tom. basically again we're forecasting annual average real gdp growth at 2.1% but the good news is we expect it to accelerate during the course of the year, perhaps reach being 3% by the fourth quarter of 2014. >> tom: what is going to add to that growth considering, is it being held back in the first six months because of the uncertaint
. >> susie: the threat of the fiscal cliff was a big topic at an investor conference in new york today hosted by johnson controls. this wisconsin-based industrial conglomerate is a leading provider of products to make buildings energy efficient, and it's also the world's largest maker of car batteries and automotive seats. c.e.o. stephen roell told me he's worried that uncertainty about the fiscal cliff could hurt consumer confidence, and his business. >> we don't do that. as the consumer, i products to costumers like the big three, that in turn sell to the autowa industry. my biggest concern is how it will affect the psychology of the consumer. i've been surprised, susie, that people continue to buy autobiles. thatouldar is change dramatically. >> sue:e steve, to what extent are the ups and downs impacting your business day to day. >> i think people are holding back on making captain investments. i see that particularly in the building side. from my standpoint, i continue to invest around the world. i'll invest make sure i'm buying the strategies we laid up for the next three years. the qu
pratt, nbr, new york. >> susie: when it comes to new claims for jobless benefits, the effects of super storm sandy appear to be passing. new claims fell by 25,000 in the week ending december 1 to a lower than expected 370,000 requests. that's raising hopes about november's jobs data, which is due out tomorrow. grey, and christmas says u.s. employment firm challenger, grey, and christmas says u.s. companies announced 57,000 job cuts last month. separately, the number of planned job cuts rose 20% in november from october's levels. on wall street, the dow rose 39 points, but the nasdaq added 15, the s&p up nearly five. >> reporter: i'm erika miller in new york. coming up tonight, we'll talk to the c.e.o. of kitchen store sur la table and get his outlook for holiday sales. >> tom: lots of theatrics today, but few visible signs of progress in washington towards a fix for the fiscal cliff. the only hopeful sign is that republicans and democrats are talking privately again. but they haven't worked out any of the big issues, including what to do about the nation's debt limit. washington will h
for workers looking to land a job in the coming weeks. suzanne pratt, "n.b.r.," new york. >> tom: citi and the financials lead the way higher on wall street, helping the dow top 13,000 again. but a big drop in apple shares kept the nasdaq from gains. by the closing bell, the dow was up 82 points, the nasdaq down 23, the s&p added two points. >> susie: investors were also encouraged by news that american workers were very productive this past summer, and that's good news for company profits. productivity increased at its fastest pace in two years, at an annual rate of 2.9% from july through september. that number blows away the initial estimate of 1.9%. erika miller takes a closer look at how technology is helping to boost safety and productivity. >> reporter: three years ago, this long island hospital had a problem: healthcare workers weren't cleaning their hands as often as required. >> 100,000 people die each year in the united states from hospital acquired infections. that's more than the number of people who die from breast cancer and from auto accidents. it's a huge problem, one t
within five years. erika miller, "n.b.r.," new york. >> susie: using your phone for shopping, is just one of the ways you will use your cell phone in the coming year. as processing power gets bigger and the physical size gets smaller, companies are using that mobile technology to make products you use every day smarter as well. as ruben ramirez reports, those are two of the top tech trends we'll see in 2013. >> reporter: people use smartphones to play games, watch movies and keep up with social media, but for many the mobile phone will become a bigger part of their lives in the coming year. trendwatchers call it the mobile fingerprint or a smartphone as unique as your fingerprint. no need to type in passwords, your phone tells your computer its you, and then locks the screen when you step away. on the health front there's technology to let a smartphone help diabetics measure their glucose levels. and with retailers, going mobile means more than processing payments. >> we do something very specific which is not just focus on the mechanics of payments but the experience around it. everythin
miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowest in 20 months. on wall street, the dow gained 78, the nasdaq rose 44, the s& up nine. >> susie: our next guest says the fed's stimulus policies have been good for the u.s. economy and the markets. he's mike holland, chairman of his money management firm, holland and company. >> susie: mike, you heard erica's report. which do you think is more important for investors, fed policy action tor the fiscal cliff talks? >> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our ta
.5% by the end of next year. suzanne pratt, nbr, new york. >> tom: still ahead, could legalized recreational marijuana use become the new competitor for medical dope? we speak with the c.e.o. of marijuana products maker dixie elixirs. >> susie: american consumers did a bit of shopping in november after laying low the month before. retail sales rose three tenths of 1% last month, following a decline of the same amount in october. the pickup in november spending is a hopeful sign for an economy that many fear is slowing down. but retail experts say the trend can hardly be considered strong. >> it's muddling along. expectations were for 0.5% increase; it came in at 0.3% and that's off of a weak october. remember, october was quite weak. so, these are not robust numbers, they're not terrible numbers. it's a continuation of a sluggish consumer, that is still sluggish as the year wore on. >> susie: november sales were twice as strong if we don't include a big decline in spending at the pump. gas station sales posted their biggest drop in four years. instead of filling up, consumers bought cars, cl
be samsung. suzanne pratt, "n.b.r.," new york. >> susie: another nick to toyota's reputation. the automaker is paying a record fine, more than $17 million, for failing to promptly report safety defects related to a lexus recall. this is the second time since 2010 that toyota has paid fines for not properly reporting vehicle defects to u.s. regulators. toyota once had the best reputation for quality and safety, but in the last three years it has announced numerous recalls for separate investigations into sticky pedals, poorly designed floor mats and steering rod problems. >> susie: big changes coming to pfizer. the giant drug maker plans to cut about 20% of its u.s. sales force, or 600 jobs. according to a report from bloomberg, the cuts begin this month and are said to be part of c.e.o. ian read's strategy to reposition pfizer after losing patent protection on its top selling drug, lipitor. at its peak, that cholesterol drug generated revenues of nearly $10 billion a year for pfizer. while lipitor's loss was tough for pfizer, it was a boon for generic drug makers. but in the coming year, fa
, new york. >> susie: don't let the fiscal cliff scare you away from buying stocks. that's the advice to investors from andy cross, the chief investment officer at the motley fool. tom hudson recently spoke with him, and began by asking if the s&p 500 will be higher or lower this time next year. >> that's a tough question. i'm not in the job of picking the stocks over, you know, three, six, nine, even 12 months is tough for me. here's what i do think. i do think we'll get some resolution to the fiscal cliff, whether it's right now or whether it's soon after the new year, i think we will see some kind of resolution. that will be good for markets, good for business, good for investors. so i'm going into 2013 wanting to be long some really good high quality companies that i know can accrue returns for investors over time. and i don't want to think with the next few months. >> tom: let's focus on the next year ahead. what about volatility, do you think you'll need an iron stomach to be a stock investor? >> i think investing in stocks, in equities comes volatility. we're not buying bonds h
. >> school of business at dartmouth with us tonight in new york. sydney, nice to see you and welcome. you have four of the worst c.e.o.'s of the year, beginning with number 4, mark pincus, manager of zynga that relies on facebook for its success. what brought mark to your list. >> facebook and zynga announced they would go their separate ways and no longer be tied in and you can guess who that will affect more, facebook or zynga. one executive manager after another has left and that is always something i have seen as one of the reason warnings signs of something going wrong. along the way acquisition was made for $180 millujjy didn't take them more than half a year to write down 50% of the value of that acquisition. so it really look like a company that is floundering and mark pincus along the way ended out cashing out as quickly as possible raising eye browse in the possible. >> to the makeup industry and fashion. andrea young, the former c.e.o. of avon, still the chairman. this company rejected a buy outr offer earlier in the year when the share price was closeƑi to 3 where it is now.
dividends in the coming weeks. suzanne pratt, "n.b.r.," new york. >> tom: cliff or no cliff. still ahead, tonight's market monitor guest says stock prices and the economy will grow in 2013. hank smith of haverford trust joins us. >> tom: super storm sandy keeps showing up in some economic data. this time: consumer spending. spending fell 0.2% in october. it was expected to be up that much. stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales will fall by 4% in the fourth quarter, that's a big drop from the same period a year ago when sales surged 21%. blaming the weak chinese economy, yum also said it plans to reduce the number of restaurant openings in the asian n
Search Results 0 to 11 of about 12

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